During my discussions with loan applicants, there seems to be a common misperception that only U.S. citizens are eligible for FHA mortgage financing. I can recall a long list of second hand stories from people who “heard about” illegal immigrants receiving FHA financing using forged and fraudulent documents. Although it is certainly possible that some […]
Are Only U.S. Citizens Eligible For FHA Loans? Facts vs. Myths
April 12, 2012 Filed Under: FHA Eligibility Requirements, FHA loan, FHA mortgage, FHA Mortgage Basics
FHA Mortgage Rates And Rent To Own Ratio Are At All Time Lows
February 1, 2012 Filed Under: Benefits of FHA Mortgage, FHA loan, FHA mortgage
Historically speaking, there has never been a better time to purchase a home. FHA fixed mortgage rates of about 3.75% are the lowest in history and have greatly contributed to lowering the cost of owning a home. For example, the monthly mortgage payment on a home purchased for $150,000 with the minimum FHA down payment […]
FHA Foreclosed Home Inventory Climbs By 30%
September 2, 2011 Filed Under: Uncategorized
The latest Monthly Report to the FHA Commissioner shows that the supply of FHA repossessed homes continues to surge. At the beginning of July 2011, FHA owned properties swelled to 53,164. The value of the properties held by the FHA totaled $6.74 billion. For the year to date current fiscal year which covers the period […]